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Explain what economists means by concept of market failure

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Reference no: EM13151348

Question 1. Which is more likely to return the European economy to long term growth, austerity (reducing public debt) or deficit finance (increasing public debt)? Use economic models to analyse this question.

Question 2. Explain what economists means by the concept of "market failure". Briefly the different ways in which markets can fail. Is price volatility an example of market failure?

Reference no: EM13151348

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